Fashion-focused social network Roposo raises $1M from Binny Bansal & India Quotient
Gurgaon-based Relevant e-solutions Pvt Ltd, owner of Roposo.com, a fashion-focused social network, has raised $1 million in a bridge round of funding from its existing investors, including Flipkart's co-founder Binny Bansal and seed fund India Quotient. The capital will be used for product enhancement and category expansion.
The startup had previously raised under $500,000 in its first round of funding from Bansal and India Quotient, besides 5ideas Startup Superfuel, for its other product Giveter.
"Everyone has witnessed how e-commerce has revolutionised the availability of products for shopping. But it has created another problem or need â€“ discovering these products in such a cluttered online space. Today the kinds of tools available are simply not designed keeping in mind how the user goes about shopping. Roposo is solving this problem through data," said Mayank Bhangadia, co-founder of Roposo.
The startup was founded by Avinash Saxena (former CTO of Zomato), Bhangadia, and Kaushal Shubhank - all B Tech graduates from IIT Delhi. Launched in December last year, Roposo is a fashion-focused social network that allows women to discover and shop new products.
The company claims that Roposo has over two lakh products across 5,000 brands from more than 150 vendors. All of these products are curated and recommended to each user as per her individual taste. Roposo further claims that it has crossed 100,000 unique monthly visitors.
"A networking destination built around fashion, where women can hang out and exchange thoughts & ideas, leading them to buying fashion-products is a ground-breaking business idea," said Bansal.
(Edited by Joby Puthuparampil Johnson)